Gold Rises to $1,400.50 Following Israel Missile-Defense System Test

Gold prices rose Sept. 3 after Israel tested its missile-defense system, which sparked concerns over growing tensions between the Middle East and the U.S., boosting safe-haven demand for the precious metal.

Gold futures for December delivery were up $4.20 to $1,400.50 an ounce on the Comex in New York, according to Bloomberg.

In London, gold prices were also up slightly by $4.19 to $1,395.06 an ounce.

Earlier in the session, an increase in the U.S. dollar index and lower crude oil prices caused gold prices to fall slightly to $1,396.75 an ounce, Kitco reported.